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Scandinavian Credit Fund I AB(publ) reports a NAV rate for April of 102.32.
That's up 0.65 (0.64 %), it's a very good month.
Inflow for the month of April is SEK 23 million, many thanks for that.
New lending in April is approximately SEK 22 million.
As previously mentioned, we have sold a property in Norrtälje that the fund has mortgaged in the past. Now the accession accounts are ready and the surplus can be added to the result for April, it is about 10 bp. It gives a little extra boost to the NAV in April and shows that our management of pledged objects works and is in the best interest of you unit owners. All increase in value in these objects accrues to the unit owners of 100%.
Our lending objects are doing well given the information we have at the moment, we of course follow all companies as carefully as during covid. We continue with the work to liquidate companies that we liquidated and I will return when I can reveal more about this.
The market
Inflation worries, central banks and covid in China are what are affecting risky assets and the bond markets right now. The war in Ukraine lurks in the background like an extra cloud of worry.
FED members are competing to be the most hawkish member now, sending growth stocks straight into the basement. The FED put that used to exist is gone, now it is inflation control that applies to 100% and the Nasdaq has performed poorly so far this year.
The Riksbank made a U-turn and I'm happy about that, because their interest rate path is probably a little too low, I think they need to raise it a little faster and a little more, but well done for changing their mind.
Below you can see that the market has moved up the interest rates since last month and that the US will begin to ease monetary policy in about 18 months. That is, the FED raises too much too quickly.
Covid in China risks messing it up for world trade again, hope that the bottlenecks that have arisen dissolve as soon as possible.
There is nothing today to indicate that 2022 will be a quiet year on the financial markets.
(source Bloomberg)
I can't help but make a comparison with a long Swedish bond fund since SCF I started. It is challenging to justify putting money into a government bond fund when there are other alternatives such as SCF I.